Snabbit Spent ₹16 To Earn Every Rupee In Operating Revenue In FY26

Amid intense competition in the quick home services market, Snabbit incurred a net loss of ₹167.8 Cr in the financial year ended March 31, 2026 (FY26) as against a loss of ₹5.7 Cr in FY25. 

Important to note that FY26 was Snabbit’s first full financial year of operations following its service launch in August 2024. Thus, comparability of the two fiscals is limited.

Snabbit posted an operating revenue of ₹12.2 Cr in FY26 compared to ₹26.3 Lakh in FY25. Platform services generated ₹10.8 Cr in revenue, while uniform sales to service professionals contributed the remaining ₹1.4 Cr. The startup recognises platform service revenue net of discounts it bears.

Including other income of ₹14.8 Cr, the startup’s total income for the fiscal stood at ₹27 Cr. Interest on bank deposits contributed ₹14.1 Cr, with the remainder largely coming from gains on mutual fund sales.

Snabbit held ₹292.2 Cr in cash and bank balances and ₹26.6 Cr in mutual fund investments, totalling ₹318.9 Cr. This balance predates its $56 Mn Series D funding round in April.

Founded in 2024 by former Zepto executive Aayush Agarwal, Snabbit connects users with trained domestic help for cleaning, dishwashing, and other household chores, promising arrivals within 10-15 minutes.

The April funding round took the startup’s total funding to $112 Mn. It is backed by the likes of Susquehanna Venture Capital, Mirae Asset Venture Investments, Bertelsmann India Investments, Nexus Venture Partners, Lightspeed Ventures, among others.

Snabbit currently operates in five cities, including Delhi NCR, Mumbai, Bengaluru, Pune and Hyderabad. It intends to expand its operations to 10 cities, with Kolkata and Chennai as priorities. 

The startup is focusing on penetrating deep into a handful of existing markets, rather than aggressive geographical expansion. Even within cities, it is doubling down on ‘micro-markets’, or certain neighbourhoods where it can ensure quick delivery, rather than the whole city. 

It was present in 140 micromarkets by May this year, and had onboarded 40,000 professionals on its platforms, with an average order value of ₹169-₹199. 

Where Did Snabbit Spend In FY26? 

Snabbit’s total expenses rose to ₹194.8 Cr from ₹6.8 Cr in FY25.

Employee Benefit Expenses: These rose to ₹46 Cr from ₹3.3 Cr, including salaries and wages, provident fund contributions, employee stock options, and staff welfare expenses.

Expert Service Cost: Its largest expense head stood at ₹63.1 Cr, compared with ₹27 Lakh in FY25.

Marketing Expenses: Spending on marketing increased to ₹48.7 Cr from ₹82.1 Lakh in the previous year. 

Service Fulfillment Expenses: Spending under this head stood at ₹23.8 Cr compared with ₹84.5 Lakh in FY25.  

Snabbit’s Loss Per Job Falls Below ₹200

In a statement issued today, Snabbit’s CEO Agarwal said the startup closed FY26 with a run rate of 35,000 daily jobs, up 70X from around 500 jobs a day at the beginning of the fiscal year. It acquired nearly 10 Lakh customers and onboarded more than 20,000 service professionals during the year. He attributed the growth to investments in customer acquisition, workforce training, technology, infrastructure and geographical expansion.

Agarwal said the startup deliberately invested ahead to scale into the competitive quick home services category. The startup said it closed the fiscal with approximately ₹319 Cr in cash and investments, zero borrowings and a net worth of ₹312.4 Cr. He also argued that its annual financial statements do not fully reflect the underlying economics or maturity of the business.

In a separate statement, Snabbit claimed that its losses per job declined from approximately ₹1,500 at the beginning of FY26 to below ₹200 in September 2026, indicating an improvement in unit economics as its operations scaled. 

Its Q2 FY27 metrics show that the platform completed 64.5 Lakh jobs, up 61% QoQ, and recorded a net transaction value (NTV) of ₹73 Cr, up 34%.

House help accounted for 64 Lakh jobs, while more recently launched verticals — home cooking and home salon services — accounted for 50,000 and 10,000 jobs, respectively, in the fiscal. The startup reported an EBITDA loss of ₹145 Cr, equivalent to 199% of NTV.

Snabbit also claimed to be the largest high-frequency home services platform by jobs completed and NTV, and the most capital-efficient at the job level. Its strategy centres on building density within fewer cities and micromarkets rather than expanding its geographical footprint aggressively. 

Competition Heats Up In Quick Home Services 

Snabbit competes with Pronto and listed home services company Urban Company’s InstaHelp in the instant household assistance market.

Pronto closed its $45 Mn Series B round in May at a $200 Mn valuation, adding to the capital flowing into the segment. However, profitability remains a challenge: all three platforms are loss-making due to intense competition, deep discounting, and rising operational costs.

Urban Company posted a ₹174 Cr EBITDA loss from InstaHelp in Q2 FY27, over 4X jump from ₹44 Cr in the same quarter last year. InstaHelp fulfilled 6.2 Mn orders, marking a 63% QoQ increase, while its net transaction value (NTV) rose 34% to ₹71 Cr. However, net order value declined to ₹114 from ₹138 in the previous quarter, which it attributed to competitive intensity and introductory pricing for new users.

In the past, Urban Company has claimed that it does not expect InstaHelp to meaningfully contribute to its bottom line over the next 4-5 years.

The quick home services segment also faces scrutiny over working conditions. Inc42’s reporting documented workers’ concerns about earnings, strict logged-in hour requirements, and inadequate access to waiting areas and washrooms.

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